New Delhi, Jan. 28 -- India's textile and apparel sector is set for a major expansion following the successful conclusion of the India-European union Free Trade Agreement. The agreement provides zero-duty access for Indian textiles and garments to the European Union, removing tariffs of up to 12 per cent and opening access to a market that imports textiles and apparel worth about USD 263.5 billion annually.
Sharing his perspective on the historical deal, Dr. A Sakthivel, Chairman of Apparel Export Promotion Council (AEPC) said, "The industry sentiments are upbeat after the successful conclusion of the India-EU deal. It will establish a long-term business relationship with the world's biggest trading block. It is a landmark moment for the I...